from the epicenter of the pandemic, Italy is now a source of envy in Europe

Exports rebounded by 23% in the first seven months of 2021, beating France and Germany

17 Oct 2021 • Drafting

Nineteen months after the army trucks took away the coffins containing the victims of Covid-19 from Bergamo, the municipalities of the first European outbreak are experiencing a strong economic recovery. This is what we read in the British newspaper “The Times”, which dedicates ample space to the Italian economic recovery, supported by the abundant gas reserves that have helped the country avoid the supply crisis seen elsewhere. The recovery is recorded at the national level: Italy’s growth this year is expected to be 6 percent, an upward revision from the 4.5 percent forecast in April. It won’t make up for last year’s 8.9 percent decline, but after two decades of economic stagnation in Italy, it shows that something has changed, reports the Times. Exports rebounded 23 percent in the first seven months of the year, beating France and Germany in terms of growth, while unlike the UK, supermarket shelves are full and there are no lines for gasoline.

“Italy’s economic prospects are far better than we expected in the spring”, said the prime minister in recent days. Mario Draghi. Thanks to the € 72 billion incentive package, issued this spring, the government has spurred construction growth with subsidies for energy efficiency improvements to homes and businesses. More good news comes from the energy front, continues the British newspaper. In fact, Italy is approaching the winter season with the highest gas reserves in Europe, thanks to the cautious construction of storage capacity by the previous governments.

The “Times”, however, compares Italy’s capacity of 17.5 billion cubic meters, which is 90 percent full, with that of the United Kingdom, which closed its last large storage facility in 2017. and has a capacity of 1.7 billion cubic meters.

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